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It wouldn't work because its a total Pyramid / Ponzi scheme. The prices are too volatile for a new coin / token to actually be utilised at this stage. But if your looking to actually make a quick buck then I definitely suggest making one for a short term gain. I recently made one and it kicked off big for the first week then I took my profits and let it die. But its totally immoral.
And for it to actually work you'd have to adopt a payment system that would be easily added to everyones stores for a way for rsps's to accept the currencies. Not only that you need a way for people to easily buy the coin without all the bullshit of pancakeswap, uniswap or it won't be worth while.. Or you have to get on an exchange which is very expensive and totally not worth it without some sort of crowd funding. Not only that for it to actually be a stable currency you have to provide liquidity to cater for the supply of the coin so the prices don't change so dramatically, depending if you use a market maker. There really isn't much worth in creating such a big thing for such a small community.
To summarise, if you were to do it, you'd need some sort of api / checkout system for all rsps websites, a place to easily buy the coin, enough liquidity to keep the coin stable so no one loses alot of money fast, a way to supply the coin - Swapping platform / Exchange, then if you were to have it in a swapping platform you need to lock liquidity forever to prove to the world you are never going to steal everyones money. So as stated above if your looking to do it seriously, its not worth it for a longevity project because there would be a little return on investment for the creator. However if you were to do it as a short term ponzi scheme to make some cash I definitely suggest it because its highly profitable. However you still need to put up a bit of liquidity and kiss it good bye to gain trust and momentum if you want to make some life changing wealth out of it.